Paying for your weekly or monthly shop has undeniably become more expensive in some cases since the Brexit vote. So where are the price rises hitting you most?
More than a year after the EU referendum, many people are feeling the impact on their pockets of some food, alcohol, package holidays and new car price rises.
Fall in the pound
Although exchange rates aren’t the only factor in price rises, products that include parts or ingredients imported from the EU are naturally affected when sterling loses value. Between June and October 2016, the pound fell by 15% against the euro (and continued to fall before a recent recovery), and by 18% against the dollar.
As an example of the immediate impact on prices, a 10kg box of oranges from a Spanish supplier with a price of €23 would have cost a fruit importer around £17.50 in June 2016 and £20.80 just four months later.
Cars to coffee on the rise
Using data from Mysupermarket, we found prices for butter, cakes, breakfast cereals, coffee, jam and marmalade, mayonnaise, olive oil, pet food, tea and tinned fish had risen when comparing April-June 2016 to April-June 2017.
Since the vote to leave the EU, the starting price of some new car models has also risen by over 20%. Prices for certain technology products have leapt since sterling began to fall – some rather more than others.
Other sectors have also witnessed inflationary pressures, notably the wine and travel markets. The average price of a bottle of wine is rising significantly and UK travellers are paying up to 25% more for a hotel room in some European cities.
We’ve called on the government to involve consumer representatives in senior-level Brexit discussions so that consumers’ needs are at the heart of the negotiations.
So what’s your feeling about the price rises? Have you seen any that have particularly raised an eyebrow?